New UK Banking Study Shows Traditional Banks Dominate Mobile Market

A new study of mobile users in the UK banking market by data analytics firm Ogury shows the top 10 most used banking apps belong to traditional banks; the top 5 by share of visitors include Halifax, Santander, Lloyds, Barclays, and NatWest; the news for fintechs also showed that customers using apps like Monzo and Starling Bank did not use them exclusively; 22 percent of Monzo users also used other apps and 19 percent for Starling Bank; some of the data doesn’t show the full picture as many digital only banks use alerts and sync to Apple and Android Pay where users would not need to open the app as often. Source.